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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 16, 1998
PETROQUEST ENERGY, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State of incorporation)
1-9020 98-0115468
(Commission File Number) (IRS Employer
Identification No.)
625 E. Kaliste Saloom Road, Suite 400 Lafayette, Louisiana 70508
(Address of Registrant's principal executive offices)
Registrant's telephone number, including area code (318) 232-7028
Not Applicable
(Former name or former address, if changed since last report)
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
On December 16, 1998, the board of directors of PetroQuest Energy, Inc.
(the "Company") determined to replace KPMG as its principal accountant with
Arthur Andersen LLP ("Arthur Andersen"). Arthur Andersen was the principal
independent accountant for American Explorer, L.L.C., which was combined into
the Company on September 1, 1998.
KPMG's report on the Company's financial statements for each of the
last two fiscal years did not contain an adverse opinion or a disclaimer of
opinion, nor was it qualified or modified to uncertainty, audit scope, or
accounting principles. During the Company's two most recent fiscal years and
subsequent interim periods preceding the replacement of KPMG, there were no
disagreements with KPMG on any matters of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure. The Company has
authorized KPMG to respond fully to any inquiries by Arthur Andersen.
A letter from KPMG to the Securities and Exchange Commission pursuant
to Regulation S-K, Item 304 (a) (3) has been included as Exhibit 16.1 to this
Form 8-K.
ITEM 7. FINANCIAL STATEMENT AND EXHIBITS
a. Financial Statement of Business Acquired
Not Applicable.
b. Pro Forma Financial Information
Not Applicable.
c. Exhibits
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16.1 Letter from KPMG to the Securities and Exchange Commission
dated December 16, 1998 regarding its agreement with
statements made in Item 4 of this current report on form
8-K.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PETROQUEST ENERGY, INC.
By: /s/ ROBERT R. BROOKSHER
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Robert R. Brooksher
Chief Financial Officer
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Exhibit 16.1
Securities and Exchange Commission December 18, 1998
Washington, DC 20548
Ladies and Gentlemen:
We were previously principal accountants for Optima Petroleum Corporation (now
PetroQuest Energy, Inc.) and, under the date March 13, 1998, we reported on the
consolidated financial statements of Optima Petroleum Corporation and
subsidiaries as of December 31, 1997 and 1996, and for the years ended December
31, 1997, 1996 and 1995. On December 16, 1998, our appointment as principal
accountants was terminated. We have read statements of PetroQuest Energy, Inc.
included under item 4 of its Form 8-K dated December 16, 1998, and we agree with
such statements.
Yours very truly,
/s/ KPMG LLP
KPMG LLP
Chartered Accountants
